THIRUVANANTHAPURAM: Home-based manufacturing or service units that are smaller than even micro units, and which had never been officially defined nor provided any sort of financial assistance, will now get a major push. What’s more, such units will be given power incentives, too. Such units with an investment of Rs 5 lakh or less, mostly units employing five or less people and engaged in the supply of raw materials to larger units, will henceforth be called ‘household nano enterprises’. Importantly, they will be granted financial assistance in the form of interest subvention, which in other words mean that the state will take over a portion of the unit’s interest burden.
Thiruvananthapuram: The Kerala Startup Mission (KSUM) will roll out a Grand Kerala Challenge offering innovation grant up to Rs 1 crore to socially relevant innovations from the state. A Global Innovation Challenge in association with the Silicon Valley based Singularity University would be also held in the state in this connection. According to IT department sources, the government has granted nod to a proposal of KSUM in this regard the other day.